Subject: Re: OT, WFC-PL
The only downside is that it takes a nasty hit during times of inflation.
The real value of the coupon fades, and, assuming the market price stays nominally in the same range over time, it also erodes the value of your stake.
Even a 7% yield isn't much if inflation comes in at 5-6%.

It seems (?) that the inflationary spike is fading, so that might not be as bad a worry as it was a year ago or two years ago when (ironically) the market price was a whole lot higher.

It's not a great long term real return even with lower inflation.
But it's a nice coupon if you need a coupon, so I have found uses for it wedged into the longer term end of the cash-and-friends allocation.
I recommended it for part of a family member's retirement portfolio which had a minimum withdrawal requirement.

Jim